Obama Millionaire's Tax: President To Seek New Tax Rate For Wealthy

[Meister]

Fine with me.

Whatever it takes.

Now what.

Okay...we resolved that....now we have to curb the spending in real cuts, not the double talk cuts.

Really? Suddenly you're okay with tax cuts for the "job creators"? Reminds me of that old punchline. "We've already established what you are, madam; now we're just haggling over price."

Suddenly????? I'm one person with one opinion, Ms. Boop.
In order for us to actually reduce the debt.....the key word is "reduce', is by taxes....but just not on the rich and not fleecing them (which your all for). But, by taxing everyone, including that lower 50% that you want to coddle. In a nation this great, there IS NO free ride. EVERYONE pays their fair share. Spending, spending spending has to stop.

 

[The Rabbi]

Only in Obamaland does removing $1,500,000,000,000 from the private sector create wealth.

I thought he was trying to create jobs.

He is trying to create one job. His.

Obama needs to fire his entire economic staff. Then he should fire their staffs. Someone get this man some decent economic advice, stat.

He has not produced a serious proposal since becoming president. Every program is amateur hour, with predictably failing results. It would be laughable if it were someone else's money.

 

[Meister]

Are you a millionaire.

No.
Are you?

Then I wasn't talking to you.

Why would you want to tax more on others but not yourself? Doesn't seem fair to me.

 

[The Rabbi]

Has anyone found out what this is actually going to tax?

My understanding is part of it is to limit deductions for, e.g. charities for anyone with income over $200k/250k. Of course that will hurt charities more than the wealthy, thus hurting the poorest among us who depend on philanthropy. But that isn't what this is about.

 

[alan1]

Are you a millionaire.

No.
Are you?

Then I wasn't talking to you.

Sure you were, you said "millionaires and their minions".
I'm often called a "minion".

 

[BDBoop]

Okay...we resolved that....now we have to curb the spending in real cuts, not the double talk cuts.

Really? Suddenly you're okay with tax cuts for the "job creators"? Reminds me of that old punchline. "We've already established what you are, madam; now we're just haggling over price."

Suddenly????? I'm one person with one opinion, Ms. Boop.
In order for us to actually reduce the debt.....the key word is "reduce', is by taxes....but just not on the rich and not fleecing them (which your all for). But, by taxing everyone, including that lower 50% that you want to coddle. In a nation this great, there IS NO free ride. EVERYONE pays their fair share. Spending, spending spending has to stop.

I'm not "coddling" anyone. But it's bullSHIT that all the money is gone, and the people who have it don't want to pay anything on it.

 

[Meister]

Really? Suddenly you're okay with tax cuts for the "job creators"? Reminds me of that old punchline. "We've already established what you are, madam; now we're just haggling over price."

Suddenly????? I'm one person with one opinion, Ms. Boop.
In order for us to actually reduce the debt.....the key word is "reduce', is by taxes....but just not on the rich and not fleecing them (which your all for). But, by taxing everyone, including that lower 50% that you want to coddle. In a nation this great, there IS NO free ride. EVERYONE pays their fair share. Spending, spending spending has to stop.

I'm not "coddling" anyone. But it's bullSHIT that all the money is gone, and the people who have it don't want to pay anything on it.

They pay a lot on it...where have you been....the democrat's echo chamber?

 

[The Rabbi]

No.
Are you?

Then I wasn't talking to you.

Sure you were, you said "millionaires and their minions".
I'm often called a "minion".

I've been called for a minyan on occasion. Does that count?

 

[OohPooPahDoo]

Only in Obamaland does removing $1,500,000,000,000 from the private sector create wealth.

I thought he was trying to create jobs.

He is trying to create one job. His.

I'm pretty sure the job of President has already been created.

He has not produced a serious proposal since becoming president. Every program is amateur hour, with predictably failing results. It would be laughable if it were someone else's money.

I fail to see how a tax break to working Americans isn't a serious proposal.

 

[bigrebnc1775]

I thought he was trying to create jobs.

He is trying to create one job. His.

I'm pretty sure the job of President has already been created.

He has not produced a serious proposal since becoming president. Every program is amateur hour, with predictably failing results. It would be laughable if it were someone else's money.

I fail to see how a tax break to working Americans isn't a serious proposal.

who care how many tax breaks you get when you have no money to be taxed.
When you aren't working and making money you can't be taxed

 

[The Rabbi]

I thought he was trying to create jobs.

He is trying to create one job. His.

I'm pretty sure the job of President has already been created.

He has not produced a serious proposal since becoming president. Every program is amateur hour, with predictably failing results. It would be laughable if it were someone else's money.

I fail to see how a tax break to working Americans isn't a serious proposal.

OK, let me help you.
What is this temporary tax break supposed to do to help grow the economy and create jobs?

 

[alan1]

Then I wasn't talking to you.

Sure you were, you said "millionaires and their minions".
I'm often called a "minion".

I've been called for a minyan on occasion. Does that count?

If you were not the one that actually called it, but were called to it, then,
the magic 8-ball says
"Perhaps".

 

[OohPooPahDoo]

He is trying to create one job. His.

I'm pretty sure the job of President has already been created.

He has not produced a serious proposal since becoming president. Every program is amateur hour, with predictably failing results. It would be laughable if it were someone else's money.

I fail to see how a tax break to working Americans isn't a serious proposal.

OK, let me help you.
What is this temporary tax break supposed to do to help grow the economy and create jobs?

Increase consumer spending.

 

[bigrebnc1775]

I'm pretty sure the job of President has already been created.



I fail to see how a tax break to working Americans isn't a serious proposal.

OK, let me help you.
What is this temporary tax break supposed to do to help grow the economy and create jobs?

Increase consumer spending.

not in a failed economy the middle class don't spend when they have a house payment and basic needs to live. They save or put the money left over on their debt. Real consumer spending starts when consumers aren't worried about losing their job.

 

[OohPooPahDoo]

not in a failed economy the middle class don't spend when they have a house payment and basic needs to live. They save or put the money left over on their debt.

LOL! So let me get this straight - when the middle class are cash strapped and have trouble meeting their basic needs - instead of using extra money to meet those basic needs, they will save it! THAT MAKES NO FUCKING SENSE.

When the middle class pay off debt with their extra money it increases their available money to spend by reducing their debt interest burden. That's pretty obvious. If I pay off $1000 in credit card debt that's 20% interest a year - that's $200 extra for me every year.

I've got a HUGE list of work that needs to be done on my house that I'd pay someone to do if I got a tax break. That money would simultaneously create work for those I pay to do it AND increase the worth of me house. Its work that can be put off for a while - but work that I won't put off if I have the funds to do it. So yeah - any tax break I get will go straight into the economy. On the other hand, if I were rich, that work would have already been done - and if you gave me extra money, I'd probably dump it in a money market account.

 

[bigrebnc1775]

not in a failed economy the middle class don't spend when they have a house payment and basic needs to live. They save or put the money left over on their debt.

LOL! So let me get this straight - when the middle class are cash strapped and have trouble meeting their basic needs - instead of using extra money to meet those basic needs, they will save it! THAT MAKES NO FUCKING SENSE.

When the middle class pay off debt with their extra money it increases their available money to spend by reducing their debt interest burden. That's pretty obvious. If I pay off $1000 in credit card debt that's 20% interest a year - that's $200 extra for me every year.

I've got a HUGE list of work that needs to be done on my house that I'd pay someone to do if I got a tax break. That money would simultaneously create work for those I pay to do it AND increase the worth of me house. Its work that can be put off for a while - but work that I won't put off if I have the funds to do it. So yeah - any tax break I get will go straight into the economy. On the other hand, if I were rich, that work would have already been done - and if you gave me extra money, I'd probably dump it in a money market account.

When the middle class pay off debt with their extra money it increases their available money to spend by reducing their debt interest burden.

Here are my basic needs
money for house payment
Food
Electric bill
water and sewer bill
tax on home
Truck payment
all the rest is after the needs of life have been met.
Now how does that stimulate the economy?

 

[The Rabbi]

I'm pretty sure the job of President has already been created.



I fail to see how a tax break to working Americans isn't a serious proposal.

OK, let me help you.
What is this temporary tax break supposed to do to help grow the economy and create jobs?

Increase consumer spending.

OK, I see the problem.
Let me walk you through this.
Consumer spending does not create jobs. Gerald Ford sent $300 checks to people to help with the recession. It didnt work. George Bush sent $600 checks to people to help with the recession (A Democrat idea, btw). That didnt work either. Obama pushed a stimulus bill that had temporary tax breaks etc to "get money into people's hands" to help with the recession. That didnt work either.
So we've had 30 years of failed policies of government putting money in people's hands so they will spend it to stimulate the economy. They don't work.
They don't work because that money has to come from someplace. That someplace is increased taxes or borrowing. So the money is taken out of the economy before it is put back in. But it isn't an even taking because there is the "toll for the troll" the cost to administer all this.
The gov't is under the mistaken impression that there is a "mulitplier effect" from gov't spending. But the multiplier turns out to be less than 1. Meaning that every dollar spent by the gov't produces less than a dollar of GDP.
What does grow the economy and create jobs are tax cuts at the margin that are permanent, and encourage work, savings, and investment.
If a guy works for $8/hr telling him he can get an extra .05 if he works another hour isn't much of an incentive. If a guy works for $1500/hr the extra $100 will be an incentive. More work means more output, means more demand. And that is how the economy grows. Not by "putting money into people's hands."

 

[bigrebnc1775]

OK, let me help you.
What is this temporary tax break supposed to do to help grow the economy and create jobs?

Increase consumer spending.

OK, I see the problem.
Let me walk you through this.
Consumer spending does not create jobs. Gerald Ford sent $300 checks to people to help with the recession. It didnt work. George Bush sent $600 checks to people to help with the recession (A Democrat idea, btw). That didnt work either. Obama pushed a stimulus bill that had temporary tax breaks etc to "get money into people's hands" to help with the recession. That didnt work either.
So we've had 30 years of failed policies of government putting money in people's hands so they will spend it to stimulate the economy. They don't work.
They don't work because that money has to come from someplace. That someplace is increased taxes or borrowing. So the money is taken out of the economy before it is put back in. But it isn't an even taking because there is the "toll for the troll" the cost to administer all this.
The gov't is under the mistaken impression that there is a "mulitplier effect" from gov't spending. But the multiplier turns out to be less than 1. Meaning that every dollar spent by the gov't produces less than a dollar of GDP.
What does grow the economy and create jobs are tax cuts at the margin that are permanent, and encourage work, savings, and investment.
If a guy works for $8/hr telling him he can get an extra .05 if he works another hour isn't much of an incentive. If a guy works for $1500/hr the extra $100 will be an incentive. More work means more output, means more demand. And that is how the economy grows. Not by "putting money into people's hands."

Consumer spending does help with the economy, but when people have bills to meet and maintain life they don't spend when the economy is bad they save or pay their bills.

 

[asterism]

I'm pretty sure the job of President has already been created.



I fail to see how a tax break to working Americans isn't a serious proposal.

OK, let me help you.
What is this temporary tax break supposed to do to help grow the economy and create jobs?

Increase consumer spending.

So what went wrong with the payroll tax cut that started last year?

 

[frazzledgear]

You can't tax a nation into prosperity. Leftist wishful thinking won't ever change that fact.

And yet we have. Taxes are the lowest they've been in 60 years. It is beyond illogical to think you can invade two countries and CUT taxes.

• End the invasions
• Allow the Bush, "we don't need a surplus", tax cuts to expire
• Allow Medicare to negotiate for drug benefits
• Audit the Pentagon

You would have a point if our economy were in good shape -but raising taxes when unemployment is high and the economy is stagnant is a recipe for a DEPRESSION.

BTW -do NOT call this a "millionaire tax" because its a lie. And how DARE he name it after Buffet when this targets everyday people and not the rarefied, obscenely wealthy like Buffet! This is NOT a tax on millionaires. It is the same old tired class warfare BULLSHIT from the left it always is. This is a proposed tax on people making $200,000 and families making $250,000 -intended to be another roadblock trying to prevent people from becoming wealthy in the first place. Wonder if those living on either coast where the cost of living is obscene consider themselves to be in the same league as Warren Buffet. Leave it to a lying ass liberal to pretend this was intended to cover people who are obscenely wealthy like Warren Buffet. It is nothing but the same old class warfare policies of the left where it will never matter how large their share of income taxes may be -the left will still squeal they aren't paying their "fair share".

As I said before the class warfare taxes the left constantly pushes is to protect those who are already wealthy and no longer earn their wealth from an income. This is intended to throw a roadblock in the way of people from becoming wealthy. Because the more people who are wealthy, the less power people like Buffet and George Soros will have. This is something intended to PROTECT Buffet by making sure it is far more difficult for others to earn wealth. Interesting these roadblocks didn't exist at the time Buffet was earning his though -and interesting it is only now when he no longer earns his wealth through an income he favors targeting those still trying to earn it themselves. Fucking hypocrite. He named it after Buffet because it is actually intended to help PROTECT Buffet's wealth who will not pay one extra dime with this legislation -and Buffet KNOWS IT. Worse yet -so does Obama. If Buffet feels he isn't paying enough and his 7 digit tax bill just isn't high enough - all he has to do is write a big, fat check to Uncle Sam. Any bets that he does NOT -and never will? Don't kid yourself, this guy will not be affected by Obama's intended tax hike. One that stands zero chance of being passed thank God!

The left SERIOUSLY believes it is more "fair" to push policies that will result in having more people in poverty than policies that would leave as few as possible in poverty. Because in their world more people who are equally miserable and broke is more "fair". Fair to whom exactly do you think? If I hear Obama say "they need to pay their fair share" again I'm gonna hurl. The top 10% of all income earners pay 71% of all federal income taxes while 48% of all income earners pay zero federal income taxes. Someone's not paying their fair share alright -but it ain't those at the top.

In order that it matter to WE THE PEOPLE what the government does, in order that people have a stake in not seeing their government go on wild spending sprees it can't pay for, in order to care whether government has created a system of fraud, abuse and corruption and it matters how much taxes are paid to government - then WE THE PEOPLE must all have some skin in the game. Who really has the more legitimate opinion on what government does? Those footing the bills? Or those existing as parasites off those footing all the bills? When it goes on long enough, eventually those stuck with all the bills start asking these questions themselves. If the other 48% don't even pay taxes in the first place -then their opinion about whether those who do should be hit with higher taxes carries far less legitimacy than those who will be paying them. THAT is what happens when you deliberately create a system where half the population is encouraged to parasite the other half and bleed them dry! If their victim bled more freely any parasite would be happy with that -and continue doing so until their victim finally died! I'm not talking about the truly destitute -I'm talking about the other 48% of INCOME EARNERS who pay NOTHING in federal income taxes! The vast majority of this half of income earners are NOT "destitute" yet their money is not at stake with discussions about the proper role of government, budget deficits and spending sprees! As far as I'm concerned their opinion about whether the people already footing the bulk of the bills are really paying their "fair share" when they pay nothing and will still pay nothing has no real legitimacy. They have nothing at stake here and it is actually the very people who have no stake in it, with none of their money at stake by what government does -that Obama is trying to appeal to with this obscenity!

Only if its YOUR money too will you really give a shit what government is doing with it and only then will you have a LEGITIMATE voice in deciding whether government DESERVES more of your money or not. Because government is NOT entitled to it -and neither is the half that has been carefully groomed to parasite off the only half footing the bills!

What the left is pushing instead is a system where half the population exist as parasites on the other half -and still insisting those being bled must open their veins ever wider for the parasites. All while telling the parasites they should despise and hate those they are sucking dry. We already know there are only two possible endings to that story and neither is pretty! So just who isn't really paying their fair share here? And why? It is why I favor the FAIR TAX: Americans For Fair Taxation: Thumbnail Sketch of the FairTax (And the best part of it aside from it being a system that stops taxing someone on what they earn and have created instead of on what they consume -is this would abolish the IRS, a power hungry, near totalitarian and out of control agency that cannot be held accountable by WE THE PEOPLE no matter who we elect.)

Ok -you think the fact we have a bad economy and high unemployment somehow means raising taxes on those making $200,000 isn't going to make a difference -a group that includes the majority of all small businesses by the way which account for 85% of all new jobs? You are an idiot. The fact we ALREADY have a bad economy and high unemployment already does NOT mean raising taxes on them can't possibly make a difference -because it will. It will make an already bad situation into a terrible one that will last far longer and become much deeper with more entrenched, hardened unemployment where the only growth is in the number of poor! DUH. Do you REALLY need to see double digit unemployment and an even worse recession before you can grasp that one? YES IT CAN BE WORSE -and Obama is just the guy for that job.

9.2% unemployment isn't high enough for you yet? 20% unemployment for blacks and 50% unemployment for black teens STILL not high enough for you yet? The class of poor GROWING isn't enough for you yet? You go ahead and tell yourself raising taxes on the "wealthy" can't possibly make things worse. But don't expect others to jump on board that suicide ride with you. This is exactly why the politicians pushing this utter bullshit need to be voted out of office. We even have morons among us who believe they can go right on being parasites until they kill that golden goose. And when it dies, they will be told it is because their hosts they finally bled dry still didn't pay their "fair share".